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Thermal Energy Storage Market Analysis, Top Companies, New Technology, Demand and Opportunity

10-28-2020 10:33 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: IMARC Group

Thermal Energy Storage Market Analysis, Top Companies, New

The global thermal energy storage market is currently witnessing strong growth. Looking forward, IMARC Group expects the market to register a CAGR of 9.5% during 2020-2025. Thermal energy storage stands for a power storage solution that transfers and retains energy obtained from ice, cold air, water, etc. It is based on miscibility gap alloy technology (MGA) using molten salt and ice. The system stores hot or cold energy to power electrical systems installed in commercial and residential complexes. Thermal energy storage is also used for storing solar energy during summers, which can be later consumed in winters. As a result, the storage systems aid in reducing the high-power demand from the conventional grid systems.

Request for a free sample copy of this report: https://www.imarcgroup.com/thermal-energy-storage-market/requestsample

The growing awareness towards energy conservation, coupled with the rising adoption of renewable energy sources, is catalyzing the demand for thermal energy storage. Moreover, the integration of concentrated solar power (CSP) with thermal energy storage system enhances grid flexibility and reduces efficiency losses. Thermal energy storage systems are widely employed in heating, ventilation, and air conditioning (HVAC) technology for large-scale heating and cooling. The rapid installation of these systems in green buildings is further fueling the market growth. Moreover, the implementation of favorable government initiatives to encourage sustainable infrastructural development is further anticipated to propel the thermal energy storage market.

Explore full report with table of contents: https://www.imarcgroup.com/thermal-energy-storage-market

Breakup by Storage Type:

Sensible Heat Storage
Latent Heat Storage
Thermochemical Heat Storage
Breakup by Technology:

Molten Salt Technology
Electric Thermal Storage Heaters
Solar Energy Storage
Ice-Based Technology
Miscibility Gap Alloy Technology (MGA)
Others
Breakup by Material Type:

Water
Molten Salt
Phase Change Materials (PCM)
Others
Breakup by Application:

Power Generation
District Heating and Cooling
Process Heating and Cooling
Breakup by End-Use:

Residential and Commercial Sector
Utility Industry
Other Industries
Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

​Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Abengoa Solar S.A., Baltimore Aircoil Company Inc., Brightsource Energy Inc., Burns & McDonnell Inc., Chicago Bridge & Iron Company, DC Pro Engineering, Fafco Inc., Ice Energy Technologies Inc., Solarreserve LLC, Steffes Corporation, Terrafore Technologies LLC, etc.

Browse Related Report

https://www.imarcgroup.com/busbar-market

https://www.imarcgroup.com/shunt-reactor-market

Contact US: IMARC Group
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Website: https://www.imarcgroup.com/
Email: sales@imarcgroup.com
USA: +1-631-791-1145
Follow us on twitter: @imarcglobal
Linkedin: https://www.linkedin.com/company/imarc-group

Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Contact US: IMARC Group
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Website: https://www.imarcgroup.com/
Email: sales@imarcgroup.com
USA: +1-631-791-1145
Follow us on twitter: @imarcglobal
Linkedin: https://www.linkedin.com/company/imarc-group

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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